The occasional jottings of a middle-aged husband and father who can see Detroit from his house.

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Friday, November 21, 2008

Let me see if I have this straight.

(1) Dubious financial minds come up with even more dubious [read: bullshit] derivative "securities" upon which transactions are based, and our Congressional masters sling the financial industry $700bn, no questions asked. In fact, the entire premise upon which the bailout was approved even gets changed in midstream, but no worries.

(2) Auto industry which employs hundreds of thousands (over a million if you kick in the cascade effects) and remains the largest part of the American manufacturing base asks for $25bn to get it through until new cost-saving labor agreements and reduced legacy costs kick in, and the answer is "Clear it with Countrywide Chris and Subprime Barney first." Oh, and you boot John Dingell for the Mayor of Whoville in the process.

Yeah, we're watching here in Michigan. Which reminds me, a word of advice for Senator Dick Shelby: I can't recommend sticking your schnozz north of Toledo for the foreseeable future--you've become a household name on sports radio, of all things. And not remotely in a good way.